Netmarble Corporation

251270.KS · Communication Services · Electronic Gaming & Multimedia · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

200.62M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

3.91B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

3.91B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

2.67B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

2.14B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.25×

the ratio the screener ranks by

Margin of Safety

+19.9%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 200.62M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)278.64M USD
−②Net Debt Today78.02M USD
+③Growth Value0 USD
=Value200.62M USD

EPV of the Operations (NOPAT over WACC)

278.64M USD

Net debt today

-78.02M USD

Growth Value

0 USD

Value

200.62M USD

①EPV (Earnings Power Value)

278.64M USD

②Net Debt Today

78.02M USD

③Growth Value

0 USD

Market value

Market Cap2.14B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-967.6%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 3.91B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 3.91B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap2.14B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+45.2%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 3.91B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an operating profit at or below zero in the latest three years), so the value is the book value today, 3.91B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap2.14B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+45.2%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 8.62%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.86×Market Risk Premium 6.00%= 9.64%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 80.31M USDPretax Income 240.99M USD= 33.32%

The tax the interest saves.

Interest Expense =EBIT 291.45M USD−Pretax Income 240.99M USD= 50.46M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 50.46M USDTotal Debt 645.82M USD×(1 − Tax Rate for WACC 33.32%)= 5.21%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 645.82M USDMarket Cap + Total Debt 2.14B USD + 645.82M USD= 23.17%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 76.83%×Cost of Equity 9.64%+Debt Weight 23.17%×Cost of Debt 5.21%= 8.62%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 5.31B USD − Total Liabilities 1.40B USD = Book Value Today 3.91B USD

Total Debt 645.82M USD − Cash and Short-Term Investments 567.80M USD = Net Debt Today 78.02M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 10.0%at most 5%passes81,934,571 / 81,934,571
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets1.5%at least -10.0%passes(235.15M USD − 156.66M USD) ÷ 5.31B USD
Price to bookMarket Cap ÷ Book Value Today0.55×at most 3×passes2.14B USD ÷ 3.91B USD
Operating marginOperating Income ÷ Revenue12.4%above 10.0%passes245.38M USD ÷ 1.97B USD
Revenue growthRevenue ÷ Revenue a Year Before − 18.6%above 10.0%does not pass1.97B USD / 1.82B USD
Net cash(Cash − Total Debt) ÷ Market Cap-5.6%above -30%passes(525.72M USD − 645.82M USD) ÷ 2.14B USD
Operating efficiencyOperating Income ÷ Gross Profit12.4%above 25.0%does not pass245.38M USD ÷ 1.97B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

35385.35 KRW

Enterprise value

3.01T KRW

the provider's own figure

EV / EBITDA

6.56×

Price / book

—

the provider's book

Price / earnings

—

Return on equity

7.1%

the provider's figure, not this page's

Profit margin

13.7%

Revenue growth

4.4%

Analyst target, mean

56303.62 KRW

Analysts

19

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

2.12B1.96B1.82B1.97B

Gross profit

2.12B1.96B1.82B1.97B

Operating income

-86.33M-53.63M147.09M245.38M

EBITDA

operating income before depreciation and amortisation

-473.64M135.93M230.64M382.98M

Pretax income

-747.79M-124.24M52.05M240.99M

Net income

-650.66M-200.28M17.49M156.66M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

-75.30M-7.54M166.56M170.74M

R&D

53.29K23.76K15.11K58.31K
Balance sheet, year end (USD)2022202320242025

Total assets

7.10B6.20B5.58B5.63B

Total liabilities

2.63B2.22B1.84B1.81B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

4.34B3.90B3.69B3.78B

Total debt

1.80B1.44B1.15B1.11B

Cash and equivalents

399.52M337.11M394.20M479.61M

Net PP&E

fixed assets after depreciation

335.86M329.15M279.56M315.87M

Working capital

current assets less current liabilities

-1.03B-809.98M-159.23M-448.40M
Cash flow (USD)2022202320242025

Operating cash flow

-324.38M-76.86M196.26M235.15M

Capital expenditure

paid out, so below zero

-108.52M-40.34M-32.57M-44.09M

Depreciation and amortisation

184.58M145.25M105.31M91.53M

Free cash flow

operating cash flow plus capital expenditure

-432.90M-117.20M163.69M191.07M